Victory for mutual fund industry March 30, 2010 The Supreme Court yesterday handed a victory to the $11 trillion mutual fund industry by endorsing a 1982 legal standard to decide the fairness of fund fees, a ruling that gives companies considerable freedom to set investment adviser charges. The justices unanimously adopted the standard in a 1982 US appeals court ruling that fees are [...]
Diamond to testify in US April 25, 2010 A RAFT of high-profile figures from Barclays and Lehman Brothers will appear before a US court over the coming fortnight in a case to determine whether the British bank underpaid for the American firm. Bob Diamond, president of Barclays, will join former Lehman president and chief operating officer Bart McDade to run over Barclays’ dramatic [...]
Don’t let a band of thieves ruin your World Cup June 21, 2010 WORRIED about invaders while you’re watching the World Cup? Set up your own CCTV network, which you can watch from the pub. Here are some of the easiest systems. D- Link Wireless Camera £100 www.d-link.co.uk Wireless cameras are easy to install. Connect the camera to your computer, then insert the CD and follow the steps. [...]
The ex-Goldman man bringing his banking skills to the Olympics July 26, 2010 AS far as many people are concerned, ex-Goldman Sachs banker Paul Deighton has quite possibly the best job in the world. Today he’s precisely two years away from organising the most prestigious sporting event in the history of mankind, the Olympic Games. And so far it’s going swimmingly well, he says. And he’s still in [...]
City plans to lobby new government over AIFM May 12, 2010 LEADING figures from the hedge fund and private equity industries are preparing to lobby the new government to stick up for the City’s interests in Europe. Groups will court the incoming financial services minister – yet to be appointed – to stress the importance of amending the controversial Alternative Investment Fund Managers (AIFM) directive being [...]
Seven suspects appear in court over FSA charges April 14, 2010 SEVEN men charged with running an insider trading ring with information gleaned from the London printers of Swiss bank UBS and broker Cazenove appeared in court yesterday. Mitesh Shah, Neten Shah, Paresh Shah, Bijal Shah, Truptesh Patel, Ali Mustafa and Pardip Saini are alleged to have used confidential information to trade in 12 UK-listed firms [...]
OFT launches review into bank industry May 26, 2010 THE Office of Fair Trading will launch a major investigation into barriers to entry in the retail banking sector. The move is a response to calls for competition to be injected into the sector, with the government hoping a host of new names will appear on the high street. The OFT stressed the review is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 7, 2010 FINANCIAL TIMES INEOS PUTS IPO ON BACK BURNER Ineos, the world’s third-largest chemicals producer, has put on ice exploratory work for an initial public offering, according to people close to the situation. A listing, which would have been among the largest by a UK company, was one of a range of options that had been [...]
BA STRIKE OFF BUT UNION FIGHTS ON December 17, 2009 A WINTER walk-out by cabin crew at ailing airline British Airways was yesterday declared illegal by the High Court. The Court’s judge Mrs Justice Cox sided with the carrier, saying that the Unite union had not correctly balloted its members on the strike action. BA had argued that the union took votes from staff who [...]
BA crew talk about strikes November 1, 2009 THOUSANDS of British Airways’ (BA) cabin crew are meeting at racecourse Sandown park this morning to discuss a winter walkout at the airline. The meeting comes ahead of BA’s financial results for the summer season, which analysts are expecting to be catastrophic, as the downturn pummels airlines. The ailing carrier, led by chief executive Willie [...]